What are credit notes and what happens after I receive one?

Hyun Cho
Hyun Cho
  • Updated

A credit note is a document that is issued to notify you that a credit is being refunded and/or applied to your account for a number of reasons.


Common reasons credit notes are issued at Oyster:

  • Refund of team member deposits after offboarding
  • When you overpay an existing invoice
  • When the amount due on the settlement invoice is negative (e.g. when the total costs for the month is lower than the pre-funding estimate).
    If you're wondering what a settlement invoice is, it's a part of the new invoicing process that is rolling out from Feb 2023 onwards. Check out this article for FAQs around the new invoicing process.

You will receive a refund in cash, equal to the amount stated in the credit note. We currently do not support using the credit to fund your next invoice.

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